Fed Governor Cook said the economy remains resilient and the expansion is proceeding at a steady pace.

ADP report: median annualized wage growth for manufacturing employees 5.0% in July, up from 4.9% in June.

A senior Gulf official told CNN the probability of a US-Iran agreement on Friday is roughly 50/50, despite US President Trump indicating a deal was imminent. The official said Iran’s delegation did not include Islamic Revolutionary Guard Corps representatives; the IRGC would need to approve any interim-agreement details. Trump said US officials were having "very good discussions" but warned the US would strike "very hard" if Iranian officials "walk away" again and suggested a Strait of Hormuz agreement could be reached as soon as the day. Iran denies direct talks with Washington, saying its officials are only consulting with Oman on Strait of Hormuz shipping. Diplomats say lifting a blockade of the Strait — a key bargaining chip — could reopen broader US-Iran discussions.